Joe Prillaman found himself in a suddenly-booming short term rental market soon after he purchased a few properties in the area. He calls it “lucky” but the fact is that he also worked very hard figuring out the market, learning the tricks of the trade, and building relationships with other investors in the area before his first investment. So it may be thanks to a bit of luck that the market turned a corner, but he still did his part to ensure he could benefit from the upturn.

In this episode, show host Avery Carl gets Joe to open up about his journey to becoming a short-term rental property investor and to share openly how he finds and chooses properties to invest in. He has some great insights around investing in multi-plexes and why he has decided to focus on those going forward. Joe believes in the slow and steady approach to short-term rental investment and so far, it seems to have paid off for him.

Discussion Points

Joe’s background in Property Investment
Starting out buying a BRRRR
Having a team around you for guidance when starting
Why Joe got into short term rental investment
What is a good deal to Joe
How Joe is finding multiplexes
Joe’s Financing process
Getting into a great market on a low budget
Number one mistake investors make
Finding out more about the market you’re interested in
Advice to 20-year-old Joe
Joe’s advice to new investors
Favorite book that impacted Joe’s mindset

Resources

The Short Term Shop University

The Short Term Shop Facebook Group

Set For Life book

BRRRR'ing and Subdividing a 5 Plex Short Term Rental with Joe Prillaman

The Short Term Show